- GM beat Q3 consensus: adjusted EPS of $3.70 versus $3.63 expected, and revenue of $50.02B versus $48.7B expected.
- GM narrowed FY26 adjusted EBIT guidance to $14.5B-$15.5B from $14B-$16B, and raised its adjusted automotive free cash flow outlook to $11.5B-$12.5B from $9.5B-$11.5B.
- GM announced a new $20B multiyear buyback with no specified timeframe, after completing a $6B program announced in January.
- GM stock fell nearly 7% on Tuesday as the outlook missed Wall Street expectations. Management flagged commodity inflation of about $2B, including logistics and DRAM chip costs.
Quotes
“Our fourth quarter's going to be down sequentially.”
“GM is performing well, and we are working hard to continue our momentum despite growing inflationary pressures through strategic investments in new products and services, and through improved quality and operating efficiency”